The Global Week Ahead
May 14 - 21, 2023
The standoff between Congressional Republicans and President Biden over the debt ceiling will continue to dominate the attention of both the US political world and the global markets attention this week. But there are plenty of other significant geopolitical and economic events happening this week that markets should pay close attention to this week.
The G-7 Leaders Conference takes place next weekend in Hiroshima, Japan. India and South Korea have been invited to attend, too. President Biden may not be able to participate in person if a deal on the debt ceiling is not reached by then. From Japan, President Biden is set to become the first US President to visit Papua New Guinea. The significance of this visit is that while there, Biden will sign a bilateral defense pact with Papua New Guinea – something China had been working hard to achieve with the island for strategic reasons but failed. Biden will then go to Australia next week for the AUKUS meetings (with the Prime Ministers of Australia, Great Britain, and Japan) to discuss further mutual security arrangements in the Indo-Pacific.
While all this is happening, China is dispatching a high-level special envoy to Ukraine, Russia, Poland, France, and Germany to try and advance their formula for reaching a diplomatic solution to Russia's war on Ukraine. Also, this week, the Black Sea Grain Initiative expires on May 18th. As of this writing Sunday evening, there are unconfirmed reports Russia has agreed to further extend the deal for another 60 days, allowing critically needed grains, cereals, and fertilizers to be exported from both Ukraine and Russia to markets in Africa, the Middle East, and Asia. Moscow has been demanding some sanctions be lifted by Western nations, or they would terminate the deal, making Ukrainian grain shipments military targets.
On the global economic radar screen this week, on the back of the G-7 Finance Minister and Central Banker meetings this weekend in Japan, we note there seems to be a lot of financial regulators and central bankers either testifying in front of the US Congress, EU Parliament, and UK Parliament or giving speeches someplace – much more than usual. The most notable of these we believe will be the semiannual testimony on the state of bank regulation by Federal Reserve Board Vice Chair for Supervision Michael S. Barr, Federal Deposit Insurance Corporation Chair Marty Gruenberg, and Acting Comptroller of the Currency Michael Hsu before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. The three regulators will surely face tough questioning on the state of banking in the US in the wake of the failures at Silicon Valley Bank and Signature (we also would note the former CEOs of SVB and Signature Bank will be testifying before the Senate Banking Committee on Tuesday). Additionally, the Atlanta Federal Reserve Bank holds its 2023 Financial Markets Conference where several Fed Governors, regional Fed Presidents, and SEC Chair Gary Gensler are set to speak. In Brussels, ECB President Christine Lagarde participates in a Eurogroup meeting Tuesday while there is an ECOFIN (EU Economic and Financial Affairs Council) meeting Wednesday to discuss bank and financial market stability while Bank of England Governor Andrew Bailey gives a major speech before the UK Chamber of Commerce and then later testifies before the UK Parliament.
In terms of major economic data this week, markets will be watching US retail, manufacturing, and housing data for further evidence of an economic slowdown. In China, markets will look at several important economic reports - retail sales, and industrial production numbers, among them -- to bolster hopes that the country is truly bouncing back post-COVID. Japan reports GDP for the first quarter, the UK reports GDP forecasts, and Canada offers inflation figures.
Here is what else we are watching around the world this coming week:
Sunday, May 14, 2023:
Global
· NSTR
Americas
Political/Social Events –
· It is Mother’s Day in the US and Canada.
· Today is Paraguay Independence Day.
Economic Reports/Events –
· NSTR
Asia
Political/Social Events –
· Cambodia holds general elections. Early voting began on May 7th. There is a risk of political protests and instability. 500 members of its House of Representatives will be chosen. But the bigger question is whether the country will continue to be ruled by the military or return to full democracy. The country's pro-democracy movement, which is led by Thailand's largest political party, Pheu Thai, and the monarchy-skeptic, youth-focused Move Forward Party are facing off against Thailand’s military-royalist establishment, including the incumbent Palang Pracharat Party and upstart Ruam Thai Sang Chart party.
· India’s Punjab Province holds elections.
Economic Reports/Events –
· NSTR
Europe
Political/Social Events –
· Bremen state election is held in Germany.
· Albania holds local elections.
· Italy holds the first round of municipal elections.
Economic Reports/Events –
· NSTR
Middle East
Political/Social Events –
· Turkey will hold presidential elections and parliamentary elections. Incumbent President Recep Tayyip Erdogan faces the toughest reelection bid of his 22-year years in office against opposition leader Kemal Kilicdaroglu.
Economic Reports/Events –
· NSTR
Africa
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Monday, May 15, 2023:
Global
· The UN Security Council will hold a briefing on Ukraine.
Americas
Political/Social Events –
· US President Joe Biden may meet with Congressional leaders in an effort to reach a deal on the debt ceiling. Staff of the respective leaders have been meeting, and there is some hope for a breakthrough in the coming week.
Economic Reports/Events –
· US Federal Reserve Board Governor Lisa Cook gives the commencement address at the U.C. Berkeley Spring 2023 Economics Commencement in Berkeley, California.
· Atlanta Federal Reserve Bank President Raphael Bostic will give welcoming remarks before the Federal Reserve Bank of Atlanta’s 2023 Financial Markets Conference. Richmond Federal Reserve Bank President Thomas Barkin will moderate a luncheon keynote at the conference.
· Minneapolis Federal Reserve Bank President Neel Kashkari participates in a fireside chat before the ACEC Minnesota Transportation Conference & Expo in St. Paul, Minnesota.
· US NY Empire State Manufacturing Index (May), Net Long-Term Tic Flows (March),
· Canada Wholesale Sales (March), Housing Starts (April), Financial System Survey
· Brazil BCB Focus Market Readout
· Colombia GDP (Q1), ISE Economic Activity (March)
Asia
Political/Social Events –
· Pakistan will announce new fuel prices.
· A visiting delegation from the International Monetary Fund will convene a press briefing in Colombo, Sri Lanka, on the country’s progress in turning the economy around after its debt default last year.
· The APEC Transportation & Trade Ministerial Meetings will be held through May 17th in Detroit, Michigan.
Economic Reports/Events –
· China People’s Bank of China 1-Year MLF Announcement
· India Imports/Exports/Balance of Trade (April), Passenger Vehicles Sales (April), WPI Inflation/Food Index/Fuel/Manufacturing Reports
· Japan PPI (April), Machine Tool Orders (April)
· Australia Building Permits (March), Private House Approvals (March)
· Thailand GDP (Q1)
· Philippine Cash Remittances (March)
· Indonesia Imports/Exports/Balance of Trade (April)
Europe
Political/Social Events –
· Chinese special representative for Eurasian affairs Li Hui will begin travels to Ukraine, Russia, Poland, France, and Germany to explore a diplomatic solution to ending Russia's invasion of Ukraine.
· Belarus’ foreign Minister Sergei Aleinik goes to Moscow for meetings through May 17th with Russian Foreign Minister Sergey Lavrov and Chairman of the Federation Council of the Federal Assembly of the Russian Federation Valentina Matviyenko and Chairman of the State Duma Vyacheslav Volodin.
· EU President Ursula von der Leyen delivers a speech at the Beyond Growth Conference in the European Parliament in Brussels. Later in the day, she Receives Mr. Subrahmanyam Jaishankar, Minister of External Affairs of India; Mr. Piyush Goyal, Minister of Commerce and Industry of India; and Mr. Rajeev Chandrasekhar, Minister of State for Entrepreneurship, Skill Development, Electronics & Technology.
· The EU Education, Youth, Culture and Sports Council meets through May 16th in Brussels.
Economic Reports/Events –
· There will be a Eurogroup meeting in Brussels. ECB Board Chair Christine Lagarde and ECB Supervisory Board Chair Andrea Enria, and ECB Board Member Fabio Panetta will participate.
· Eurozone Industrial Production (March)
· Germany Wholesale Prices (April)
· Spain Consumer Confidence (April)
· Hungary Construction Output (March)
· Serbia Building Permits (March)
· Ukraine Balance of Trade (March)
Middle East
Political/Social Events –
· Palestinians will recognize Nakbha Day, which is also known as the “Palestinian Catastrophe”, which may coincide with increased violence in Gaza and the West Bank.
Economic Reports/Events –
· Turkey Budget Balance (April)
· Saudi Arabia Wholesale Prices (April), Inflation (April)da
· Israel Inflation (April), Unemployment (April), Imports/Exports/Balance of Trade (April)
Africa
Political/Social Events –
· Former Guinean Prime Minister Ibrahima Kassory Fofana will be tried for alleged embezzlement of public funds. The trial was postponed since last year due to his ill health. He is accused of embezzling more than $4 million.
Economic Reports/Events –
· Nigeria Inflation/Food Inflation Figures (April)
Tuesday, May 16, 2023:
Global
· The International Energy Agency (IEA) releases the May 2023 oil market report.
· The UN Security Council will hold a briefing on peace and security in Africa, followed by consultations.
Americas
Political/Social Events –
· Canadian Prime Minister Justin Trudeau will visit South Korea and hold a summit with President Yoon Suk Yeol, where they will discuss supply chain issues, trade, and mutual security issues.
· The US Senate Banking Committee holds a hearing to examine the failures of Silicon Valley Bank and Signature Bank. Among the witnesses expected to testify are former Signature Bank Chairman Scott A. Shay, former Signature Bank President Eric R. Howell, and former Silicon Valley Bank CEO Gregory W. Becker.
· US Treasury Secretary Janet Yellen speaks at the Independent Bankers of America Capital Summit in Washington, D.C.
· The State of Kentucky holds its Republican gubernatorial primary, selecting a candidate to face incumbent Democratic Governor Andy Beshear this fall.
Economic Reports/Events –
· Federal Reserve Board Vice Chair for Supervision Michael S. Barr, Federal Deposit Insurance Corporation Chair Marty Gruenberg, and Acting Comptroller of the Currency Michael Hsu gives their Semiannual Hearing on Supervision and Regulation before the U.S. House Financial Services Committee.
· Atlanta Federal Reserve Bank President Raphael Bostic participates in a panel discussion with Chicago Federal Reserve Bank President Austin Goolsbsee, moderated by New York Times Federal Reserve and Economics Reporters Jeanna Smialek, at the Atlanta Fed’s 2023 Financial Markets Conference. Later in the day, Dallas Federal Reserve Bank President Lorrie Logan will moderate Policy Session 4: Mitigating Risks and Preserving Financial Stability in an Appropriately Restrictive Policy Environment.
· Cleveland Federal Reserve Bank President Loretta Mester to speak in person before the Global Interdependence Center Central Banking Series in Dublin, Ireland.
· Federal Reserve Bank of New York President John Williams participates in a conversation organized by the University of the Virgin Islands.
· US Retail Sales (April), Redbook (May 13th), Industrial Production (April), Capacity Utilization (April), Business Inventories (March), NAHB Housing Market Index (May), Retail Inventories (March)
· Canada Inflation (April), CPI (April), Manufacturing Sales (March)
· Colombia Balance of Trade (March), Imports (March)
· Uruguay Central Bank Interest Rate Decision
· Peru GDP (March), Unemployment (April)
Asia
Political/Social Events –
· NSTR
Economic Reports/Events –
· China Industrial Production (April), Retail Sales (April), Unemployment (April), FDI (April)
· South Korea Export & Import Prices (April)
· Australia Reserve Bank Meeting Minutes, Westpac Consumer Confidence Index (May)
Europe
Political/Social Events –
· The Council of Europe Summit is held in Reykjavik, Iceland to discuss how Russia can pay for the damage they have done to Ukraine.
· EU President Ursula von der Leyen meeting with the Prime Minister of Iceland, Ms. Katrin Jakobsodottir in Reykjavik, Iceland. President von der Leyen later participates in the Summit of the Heads of State and Government of the Council of Europe in Reykjavik.
· French Prime Minister Elisabeth Borne will mee with trade union leaders to discuss pension reform as protests continue across the country over recent reforms enacted by parliament.
Economic Reports/Events –
· There will be an EU Economic and Financial Affairs Council (ECOFIN) Meeting in Brussels. EDB Board Vice Chair Luis de Guindos will participate. Topics for discussion include bank crisis management and a deposit insurance framework, the economic and financial impact of Russia’s war on Ukraine, overall economic recovery in Europe, and outcomes of the April G20 meeting.
· ECB Board Chair Christine Lagarde will Christine Lagarde give a laudation upon being conferred the State Prize of North Rhine-Westphalia to Angela Merkel in Cologne, Germany.
· ECB Board Member Anneli Tuominen will give a speech followed by a conversation with Single Resolution Board Chair, Dominique Laboureix, at the 18th IESE Banking Industry Meeting “Banking Navigating the Wave of Inflation” in Madrid, Spain.
· Eurozone GDP 2nd Q Estimate, Balance of Trade (March) Employment (Q1), ZEW Economic Sentiment Index (May)
· Bank of England Chief Economist Huw Pill takes part in an online Q&A hosted by the central bank on the steps it is taking to control inflation.
· Germany ZEW Economic Sentiment Index (May), ZEW Current Conditions (May)
· UK Unemployment (March)
· Italy Inflation (April), CPI (April)
· Hungary GDP (Q1)
· Bulgaria Inflation (April)
Middle East
Political/Social Events –
· Today is Martyrdom of Iman Saddeq Day, a national holiday in Iran honoring the 8th-century Shia Muslim scholar who was poisoned.
Economic Reports/Events –
· Israel GDP (Q1), M1 Money Supply (April)
· Qatar Inflation (April)
· Turkey Auto Production (April), Auto Sales (April)
Africa
Political/Social Events –
Economic Reports/Events –
· South Africa Unemployment (Q1)
Wednesday, May 17, 2023:
Global
· The UN Security Council will hold a briefing on the Middle East (Yemen), followed by consultations.
Americas
Political/Social Events –
· The Senate Banking Committee’s Subcommittee on Economic Policy will hold a hearing on “Strengthening Accountability at the Federal Reserve: Lessons and Opportunities for Reform.” The Subcommittee, chaired by fierce Fed critic Senator Elizabeth Warren (D-MA), will hear from Mr. Mark Bialek, Inspector General, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau. It is expected they will focus on the Fed’s role as a bank regulator and what happened with the recent collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank.
· The House Select Committee on Strategic Competition between the U.S. and the Chinese Communist Party will hold a hearing on “Leveling the Playing Field: How to Counter the Chinese Communist Party’s Economic Aggression.” Among those testifying will be Former U.S. Trade Representative Robert Lighthizer, Eric Schmidt , Chairman of the Special Competitive Studies Project, Roger Robinson , Chairman of the Prague Security Studies Institute and former chairman of Congressional U.S.-China Economic and Security Review Commission
Economic Reports/Events –
· US MBA Mortgage Index (May 12th), Building Permits (April), Housing Starts (April)
· Canada New Motor Vehicles Sales (March)
· Brazil Retail Sales (March)
· Argentina Leading Indicators (May)
Asia
Political/Social Events –
· NSTR
Economic Reports/Events –
· China House Price Index (April)
· India M3 Money Supply (May 5th)
· Japan GDP (Q1), Capacity Utilization (March), Industrial Production ((March)
· Singapore Non-Oil Exports (April)
· Australia Westpac Leading Index (April), Westpac Leading Index (April), Wage Price Index (Q1)
· Singapore Balance of Trade (April)
Europe
Political/Social Events –
Economic Reports/Events –
· Bank of England Governor Andrew Bailey gives a keynote speech at the British Chamber of Commerce Annual Conference in London.
· ECB Board Member Frank Elderson will participate in focus panel 18 "Beyond GDP indicators," at Beyond Growth Conference 2023 in Brussels.
· ECB Board Member Fabio Panetta will give a presentation during an online debate on the digital euro at Kangaroo Group event in Frankfurt, Germany.
· ECB Board Vice Chair Luis de Guindos will give a closing speech at the 18th IESE Banking Industry Meeting, “Banking Navigating the Wave of Inflation” in Madrid, Spain.
· Eurozone Inflation (April), CPI (April), New Car Registrations (April)
· France Unemployment (Q1)
· Hungary PPI (April)
· Serbia Current Account (March)
· Russia GDP (Q1)
Middle East
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Africa
Political/Social Events –
· In Guinea, opposition groups are planning anti-military junta protests over the next week after seven people were killed during protests last week.
Economic Reports/Events –
· South Africa Retail Sales (March)
Thursday, May 18, 2023:
Global
· Russia is threatening to let the Black Sea Grain Initiative (BSGI) expire unless certain demands are met, including the lifting of certain sanctions on Russia, including the removal of sanctions on the Russian Agricultural Bank. If the BGSI fails to continue, it could create a global food security crisis.
· The UN Security Council will hold a briefing on the United Nations Assistance Mission for Iraq (UNAMI) followed by consultations.
Americas
Political/Social Events –
· Politico will host its first-ever Energy Summit on Thursday in Washington, D.C. The event features conversations with Energy Secretary Jennifer Granholm, White House National Climate Adviser Ali Zaidi and Jigar Shah, director of the DOE's Loan Programs Office.
· In Argentina, Left-wing groups and unions will protest in central Buenos Aires to demand greater social spending on subsidies for low-income households.
Economic Reports/Events –
· Federal Reserve Board Vice Chair for Supervision Michael S. Barr, Federal Deposit Insurance Corporation Marty Gruenberg, and Acting Comptroller of the Currency Michael Hsu gives their Semiannual Hearing on Supervision and Regulation before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
· Federal Reserve Board Governor and Vice Chair for Monetary Policy nominee Phillip Jefferson gives a speech at the National Association of Insurance Commissioners International Insurance Forum in Washington, DC.
· US Initial Jobless Claims (May 13th), Philly Fed Manufacturing Index (May), Philly Fed Business Conditions (May), Philly Fed CAPEX Index (May), Philly Fed Employment (May), Philly Fed New Orders (May), Existing Home Sales (April), CB Leading Index (April)
· Canada New Housing Price Index (April)
· Mexico Central Bank Interest Rate Decision
· Peru Current Account (Q1)
· Argentina Balance of Trade (April)
· El Salvador Balance of Trade (April)
Asia
Political/Social Events –
· Chinese leader Xi Jinping will hold Beijing's first in-person summit with Central Asian leaders in Xi'an. Known as the C+C5, attendees will include the leaders of Kazakhstan, Tajikistan, Uzbekistan, Kyrgyzstan, and Turkmenistan. Beijing’s goal for the meeting is to boost strategic cooperation on issues including the Belt & Road Initiative and how to deal with Russia’s War on Ukraine.
Economic Reports/Events –
· Japan Imports/Exports/Balance of Trade (April)
· Australia Unemployment (April)
· Philippine Central Bank Interest Rate Decision
· Hong Kong Unemployment (April)
Europe
Political/Social Events –
· Northern Ireland holds local elections in 11 councils.
Economic Reports/Events –
· ECB Board President Christine Lagarde will attend the official celebration of the 175th anniversary of the first German national parliamentary assembly event in Paulskirche in Frankfurt, Germany.
· ECB Board Member Luis de Guindos will give remarks at a seminar organized by PwC in Madrid, Spain.
· Bank of England Governor Andrew Bailey testifies before the Treasury Select Committee of Parliament on the impact of rate tightening on the economy and how he sees the BoE can best deal with inflation.
· Bank of England Chief Economist Huw Pill opens a BoE research workshop on macroeconomics and finance.
· UK Gfk Consumer Confidence (May)
· Spain Balance of Trade (March)
Middle East
Political/Social Events –
· NSTR
Economic Reports/Events –
· Turkey Financial Stability Report, FX Reserves (May 12th)
· Egypt Central Bank Interest Rate Decision, Overnight Lending Rate
Africa
Political/Social Events –
· NSTR
Economic Reports/Events –
· South Africa Building Permits (March)
Friday, May 19, 2023:
Global
· G-7 leaders will gather in Hiroshima to discuss global economic, security, and climate issues through May 21st. In addition to the G-7 countries, South Korea and India have been invited to participate. President Biden may be forced to attend virtually if the debt ceiling crisis is not resolved beforehand. UK Prime Minister Rishi Sunak is expected to sign a new bilateral defense and technology agreement with Japan while visiting the country.
Americas
Political/Social Events –
· NSTR
Economic Reports/Events –
· Federal Reserve Board Chair Jerome Powell will join a discussion with former Fed Chair Ben Bernanke on the topic of “Perspectives on Monetary Policy” at the Federal Reserve’s Thomas Laubach Research Conference in Washington, D.C. Also speaking at the conference later in the day will be Federal Reserve Bank of New York John Williams.
· US Federal Reserve Board Governor Michelle W. Bowman participates in a discussion at the Texas Bankers Association Annual Convention, San Antonio, Texas.
· Canada Retail Sales (March)
· Brazil IBC-BR Economic Activity (March)
· Mexico Retail Sales (March)
Asia
Political/Social Events –
· NSTR
Economic Reports/Events –
· Japan Inflation (April), Tertiary Industry Index (March)
· India Deposit Growth (May 5th), FX Reserves (May 12th), Bank Loan Growth (May 5th)
· Malaysia Imports/Exports/Balance of Trade (April)
· Taiwan Current Account (Q1)
· Indonesia Car Sales (April)
Europe
Political/Social Events –
· Armenian Foreign Minister Ararat Mirzoyan and Azerbaijani Foreign Minister Jeyhun Bayramov will meet in Moscow, Russia, to discuss a peace treaty and the disputed Nagorno-Karabakh region. The meeting will mark the first time that the two foreign ministers will meet after holding four-day talks near Washington last week, hosted by Secretary of State Antony Blinken. In his public comments, Blinken said that progress in normalizing relations between Armenia and Azerbaijan was made, and peace between the countries was “within reach.”
Economic Reports/Events –
· ECB Board President Christine Lagarde will give a pre-recorded video at Session 2 "Post-pandemic challenges: High inflation, high indebtedness and financial stability" of Banco Central do Brazil’s High-Level Seminar on Central Banking “Past and present challenges” in São Paulo, Brazil
· ECB Board Member Isabel Schnabel will give a speech and participate in a panel at the Conference on Financial Stability and Monetary Policy in honor of Charles Goodhart, followed by the opening of the Charles Goodhart Library, London, UK.
· Germany PPI (April)
· Italy Construction Output (March)
· Slovenia PPI (April)
· Bulgaria Current Account (March)
Middle East
Political/Social Events –
· The Arab League Summit will be held in Saudi Arabia. Syrian President Bashar al-Assad has been invited by Saudi King Salman bin Abdulaziz, the first time Syria has been allowed to participate since being suspended 12 years ago due to al-Assad’s crackdown on his own people.
· Israeli ultranationalists will hold a controversial "flag march" through Jerusalem's Muslim Quarter in Jerusalem’s Old City. Hamas issued a statement warning that the Gaza-based group would not let Israel “Judaize” Jerusalem via the Flag March, suggesting violence could ensure.
Economic Reports/Events –
· Israel Inflation Expectations (May)
Africa:
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Saturday, May 20, 2023:
Global
· NSTR
Americas
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Asia
Political/Social Events –
· Today is East Timor Independence Day, marking the day in 1975 when the country gained a short-lived independence from Portugal (it was shortly afterward taken over by Indonesia and only regained its independence in 2002).
Economic Reports/Events –
· NSTR
Europe
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Middle East
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Africa
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Sunday, May 21, 2023:
Global
· NSTR
Americas
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Asia
Political/Social Events –
· President Biden visits Papua New Guinea – the first sitting US President to visit the island - to meet with Prime Minister James Marapae. While there, he will sign a defense and surveillance agreement with the country, a blow to China who had been trying to woo the island into closer diplomatic and commercial tie and even reportedly asking if they could build a naval base. While on the island, Biden will meet with other leaders at the Pacific Forum Leaders (through May 22nd). Biden will remain in Asia for the Quad Leaders Meeting in Australia on May 24th.
· East Timor holds parliamentary elections.
Economic Reports/Events –
· NSTR
Europe
Political/Social Events –
· Greece holds elections for 300 seats for the national parliament.
Economic Reports/Events –
· NSTR
Middle East
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
Africa
Political/Social Events –
· NSTR
Economic Reports/Events –
· NSTR
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